Fraud & Security

Monthly global ransomware attacks hit an all-time high in March, totaling 460. That’s a 62% increase from the same period a year earlier, and a 91% increase from the prior month, according to the fall edition of Visa Inc.’s 2023 Biannual Threats Report. Leading causes for ransomware attacks are criminals …

Mastercard Inc. denies an assertion it intends to raise interchange rates in October following an Aug. 30th story in The Wall Street Journal about interchange rate adjustments expected from Mastercard and Visa Inc. in October and April. Mastercard said the article relied on a report from an advisory firm that is advocating for legislation that …

In somewhat simple terms, quantum computing uses quantum mechanics – an area of physics that examines the behavior of particles at a microscopic level – to solve complex problems more rapidly than on conventional computers. It includes elements of physics, computer science, and mathematics.   For the purpose of this …

With the Securities and Exchange Commission mandating public companies victimized by a cyberbreach publicly disclose the breach, businesses need to be more diligent in keeping out cybercriminals, as disclosure of such information can subject them to greater scrutiny and potential liability. The rule, which the SEC passed in July, requires …

Buy now, pay later provider Affirm Inc. posted fiscal fourth quarter revenue of $445.8 million, up 22.4% from $364.1 million in the quarter ended June 30, 2022. Its quarterly loss of $206 million broadened from $186.4 million a year ago. For the full year, Affirm had $1.588 billion in revenue, up 17.7% …

Fiserv Inc. is working with data aggregator Akoya LLC to enable consumers to share their financial data with fintech and third-parties with which they do business in a way that doesn’t expose a consumer’s full banking credentials. The partnership will provide Fiserv with access to consumer data from Akoya’s network …

OSHA Outreach Courses, which provides workplace training services to employers and employees, said it has added a buy now, pay later option to pay for its instructional offers. Shift4 Payments Inc. has been named the official payment processor for the Cleveland Cavaliers of the National Basketball Association. Shopmium, a cash-back shopping …

Most victims of identity theft—53%—began using different passwords across multiple accounts, a move that could reduce their fraud exposure in the future, found a survey from the Identity Theft Resource Center. Typically, though, 59% of consumers use the same password across multiple accounts, the ITRC’s 2023 Consumer Impact Report found. …

Feedzai, a U.S. fraud-detection and -prevention company, will offer its services in Latin America through a partnership with Dock, a payments provider specializing in services for that region. TreviPay, a U.S.-based business-to-business payments provider operating in 32 countries, introduced a service to support cases where buyers ask to be invoiced …

Pulse, the debit network owned by Discover Financial Services, released its 2023 debit study that found the total number of debit transactions increased 1% in 2022 over 2021, while dollar volume increased 3% for the same period. Fraud and risk platform DataVisor released its Real-Time Payments Fraud Solution to help counter fraud …